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Oil prices were lower in early Asian trade. The market remains concerned about the effects of Trump’s promised tariffs on China’s economic growth, as it may crimp oil demand, ANZ said.
Asian currencies consolidated against the dollar early in the session but may weaken on a likely Republican sweep of the U.S. Congress and the White House.
Gold was steady in the early Asian session as traders continued to digest recent U.S. dollar strength and the uptrend in Treasury yields in the wake of Trump’s election win.
JGBs edged higher in the morning Tokyo session. Japanese government bond yields will probably face “some upward pressure in the near term,” JPMorgan said.